BEMO Europe

E-Banking General Terms and Conditions

Publication Date: May 2024

1. Introduction

BEMO EUROPE BANQUE PRIVEE (hereafter referred as “BEMO” or the “Bank”), is a public limited company governed by the law of the Grand-Duchy of Luxembourg. It is registered with the Registre de Commerce et des Sociétés de Luxembourg under number B176452, with its registered office at 26, Boulevard Royal, L-2449 Luxembourg.

The Bank is authorized by the Commission de Surveillance du Secteur Financier (“CSSF”), 283, route d’Arlon L-2991 Luxembourg (website www.cssf.lu, Tel. (+352 262511), to carry out their activities pursuant to Article 2 of the Law of 5 April 1993.

The Bank is a member of the Fonds de Garantie des Dépôts Luxembourg (“FGDL”) which aims to protect depositors and of the Système d’Indemnisation des Investisseurs Luxembourg (“SIIL”) (Luxembourg Investor Compensation System) which aims to protect investors holding financial instruments.

BEMO EUROPE with the agreement of the CSSF and the ACPR has a branch in France, denominated as BEMO EUROPE BANQUE PRIVEE – Succursale de Paris. It is registered under RCS number 998269518 / CIB 17619 with its registered office at 63, Avenue Marceau, 75116 Paris.

2. Purpose of the General Terms and Conditions

The General Terms and Conditions (hereinafter “GTC”), including its appendices, shall govern business relations between the Bank and its clients (hereinafter individually the “Client” and collectively the “Clients”) relating to the operation and the conditions and the terms of use of the Private E-Banking.

Any derogation from these GTC or other specific conditions may arise only from an express written agreement with the Bank.

3. Definitions

“Client” means any person who has submitted an account opening application to the Bank, who has been accepted by the Bank and for whom the Bank has opened an account. Unless stipulated otherwise, the legal representatives designated by the account holder will be considered to be the Client.

“Internet Access” is the online banking service via the no transactional part of the Bank’s website enabling the Client to access information governed by the General Terms and Conditions of the Bank and the specific agreement governing such relationship.

“Luxembourg laws” means the European legislative instruments directly applicable in Luxembourg.

“Laws and Regulations” is, save otherwise specified, a reference to the laws and regulations applicable to the Bank, as amended from time to time.

PART1: TERMS AND CONDITIONS

  • Preliminary terms and conditions

The Bank intends to provide the Client and/or any person designated by the Client (hereinafter together the “User “) through the Internet with the services set out in these Private E-Banking General Terms and Conditions. Without prejudice to other provisions herein, the Bank will offer through its E-Banking website and/or application the possibility to access to information such as Account Statement, Portfolio Valuation and more. These services are offered solely in relation with the bank accounts mentioned in the document justifying the request for access.

Through the Banks E-Banking website and/or application, the Bank and the User exchange information, in encrypted form, using public telephone lines and the Internet. The Internet is an open international communication network which the User can access through any suitable device such as a personal computer, etc., the specific characteristics of which are known to the Client.

The User can access the Bank’s E-Banking website and/or application e using any suitable device from any location. In order to reduce the risk of unauthorized parties having access to the User’s confidential access codes, the User should only log on directly to the E-Banking website and/or application and not indirectly, e.g., through links. Any indirect access made by the User to the E-Banking website and/or application is at the User’s exclusive risk. The Bank has taken measures which it considers to be appropriate to ensure secure processing of information via the Internet. The Bank, however, only has a duty to use its best efforts in this context.

The contractual relationship between the Bank and the User are governed by these E-Banking General Terms and Conditions, the Bank’s General Terms and Conditions , as well as any agreements and special terms specifically agreed to by the parties, the law, regulations and customs issued by the International Chamber of Commerce and agreements among banks and banking customs generally applicable and followed in the Luxembourg financial community. The Client agrees to keep him-self informed at all times of changes and amendments to the said rules over time. By using the services offered by the Bank as foreseen by said rules, the Client will be deemed to have accepted the rules.

  • Use of Private E-Baking services

Upon receipt of a request for access to E-Banking website and/or application, the Bank will provide the User designated by the Client with:

  1. a personal identification code (hereinafter referred to as a “USERNAME”);
  2. a temporary password, which the client will be required to change upon first login (hereinafter referred to as a “PASSWORD”)
  3. a one-time Token that provides the USER with a personal secret code (hereinafter referred to as a “TOKEN”)
  4. information in regards to setting up a two-factor authentication (“2FA”) by linking the account to a third-party authenticator (hereinafter referred to as a “2FA”).

The elements referred to in (2.a) to (2.d) above are collectively referred to as “Identification” or “ID”. Unless decided otherwise, the ID will be sent to the User by e-mail, mail or by phone, at the Client’s risk.

Each time the User accesses E-Banking website and/or application, he shall enter his USERNAME and PASSWORD provided by the Bank followed by the two-factor authentication code provided by the third-party authenticator (“2FA”).

  • Access

The Letters issued with the Client’s ID describes the procedure for accessing E-Banking website and/or application.

In principle, the system should be available at all times. However, the E-Banking website and/or application may be unavailable due to a problem with the Internet or any other technical reason. The Bank will not be liable for any damage or loss suffered by the Client and/or the User due to E-Banking website and/or application being unavailable for whatever reason, except where such unavailability is due to gross negligence or wilful misconduct on behalf of the Bank. The Bank may block access to E-Banking website and/or application at any time.

  • Security and privacy of E-Banking accounts

The ID will remain the property of the Bank. The Client and/or the User agree(s) not to provide a third party with his ID and furthermore to constantly ensure that his ID is shielded from third parties. The Client and/ or the User agree(s) to keep his ID secret and to ensure that third parties do not have access to his ID, which remains personal to the Client and/ or the User. To this effect, the Client and/or the User will refrain from any action that might reveal his ID to third parties, such as noting the ID in writing. The Client and/or the User furthermore agree(s) to ensure that his access is secure, by taking effective measures to prevent third parties from accessing his computer terminal, laptops, tablets or other mobile devices used to access the E-Banking website and/or application.

Once a misuse has been identified, can be presumed or a risk of misuse has occurred, as well as in the event of loss, theft, misappropriation or any unauthorized use, the Client and/or the User must immediately inform the Bank without delay, as provided for in Clause 10.

The Client will be liable for any damage or loss that he or the Bank may suffer due notably to a failure by the User to comply with the obligations set out above, particularly owing to the loss or misuse of his ID. The User may not alter or change his ID. In the event of loss or theft, misappropriation or any unauthorized use of his ID, the Client shall bear the cost if any of replacing his ID.

The Client and/or the User shall be personally liable, at his own expense, for the connection with the Bank through the Internet. The Client and/or the User will be liable for using the E-Banking website and/or application in accordance with any other instructions provided by the Bank. Such other instructions may be given in the form of messages on the Bank’s web page, through the system, by ordinary mail or in an account statement or a document attached to an account statement. If necessary, the User may contact the Bank’s for assistance.

  • Power of attorney

If the Client were to give the access to E-Banking website and/or application to a holder of a power of attorney, he accepts that this will only be possible if the power of attorney doesn’t contain any restriction on the attorney’s powers. The limitation or revocation of power granted by the Client to the attorney during the term of validity of the power of attorney will result in the cancellation of the attorney’s access to the account through the E-Banking website and/or application as from the day after the said limitation or revocation is received by the Bank.

  • Mail communication

Unless otherwise agreed, the Bank shall send documents to the Client by post to the address provided by the Client in the account opening form, or in PDF or another format to the e-mail address provided by the Client and/or the User or via account statements or documents attached to an account statement. If the account has several holders, the Client accepts the fact that documents in PDF or another format will be deemed to have been validly sent if sent to the e-mail address provided by one of the account holders. The Bank may prove that correspondence has been sent to the Client and provide proof of the date of posting by producing a copy of the relevant correspondence or other form of proof of sending.

  • Account Statements

Information relating to the account received by the User through the E-Banking website and/or application is without prejudice to changes that might result from the execution of pending transactions. Similarly, owing to the operating constraints of the electronic and accounting processes, the User, when consulting account statements and information relating to the financial situation available through the E-Banking website and/or application will take into consideration transactions which have not yet been recorded. In any event, information received through the E-Banking website and/or application is only indicative; only account statements prepared in accordance with the Bank’s General Terms are authoritative.

At the moment the E-Banking website and/or application services can only be used to access Account statement (cash, loan, deposits and portfolio positions) along with trade confirmations and accounts statement, if any new services are launched, the User will be provided with a specific communication and the updated Terms and Conditions.

  • Copyright and Intellectual Property

Copyright to the E-Banking website and/or application is held by the Bank or by the E-Banking website and/or application service provider. The User agrees not to publish or distribute electronically or otherwise any information on the E-Banking website and/or application without the Bank’s prior written consent. In addition, the User agrees not to copy, reproduce or correct the whole or part of the software and database or any related upgrades or updates and not to arrange for a third party to copy, reproduce or correct same, in any number, by any method or process, on any known or unknown current or future medium or materials. He further agrees not to transform or upgrade the whole or part of the software or data contained in the software, not to create new versions or new developments, not to decompile, mix, modify, assemble, transcribe, arrange, digitalise, configure or interface the foregoing with a software, database or computer product, not to use algorithms for any purpose, not to transcribe the whole or part thereof in any form – whether modified, shortened, condensed or extended – not to integrate the whole or part of the foregoing towards or in existing or future works, on any medium. He further agrees not to translate the whole or part of the software or data or to have the foregoing translated into any language and, as regards the software, into any programming language, on any medium, and not to market the foregoing.

  • Liability – use of the E-Banking website and/or application

The User has a non-exclusive and non-transferable right to use the Bank’s E-Banking website and/or application service and agrees only to use the E-Banking website and/or application in accordance with these General Terms and Conditions, and service instructions, as well as any other instructions issued from time to time by the Bank. The User further warrants that he has received all of the authorisations required in accordance with applicable domestic law and regulations allowing him to access and use the service.

If the Client and/or the User observes or presumes that his account has been misused through the E-Banking website and/or application, if the Client and/or a User lose(s) an element of his ID or if he presumes that a third party has or might have stolen or otherwise obtained an element of his ID in any way, he must immediately contact the Bank in order to block access to the service. The Client and/or the User shall inform the Bank’s help desk, by telephone its opening hours, of the event or misuse, loss or theft of an element of his ID, misappropriation or any unauthorized use, so that the help desk can block access to the Client’s account. This information of the Client/User shall be followed by a written notification from the Client/User after which the Bank must suspend access to the Client’s account via the E-Banking website and/or application if it has not already done so. The Bank may suspend the Client’s and/or the User’s access to the E-Banking website and/or application at any time if it assumes or suspects that the account has been misused. Without notification from the Client and/or the User, the Bank will not be liable for any damage or loss resulting from the misuse, for the loss or theft of the Client and/or User’s ID, for the suspension of the Client and/ or User’s access to the service, or if a third obtain information about the ID.

However, in the event of fraudulent misrepresentation or gross negligence on the part of the Client and/or the User, particularly if he has not complied with the security measures set out herein or any other reasonable security measures necessary or useful each time in the light of the circumstances, the Client will continue to be responsible for the use of his ID even following completion of the blocking procedures, notifications and reports mentioned above.

In addition, the Bank will not be liable for any direct or indirect damage or loss suffered by the Client as a result of:

  • use of Private E-Banking by the Client himself, by a User designated by the Client or by any other person who has in any way obtained an element or elements of the Client’s or a User’s ID;
  • an error or act of negligence on the part of the Client and/or User, the User’s Internet service provider of the Client and/or User, or other third party when installing or using the banking services;
  • any virus that might affect the device used by the User to access the E-Banking website and/or application or any other device;
  • the unavailability of the service for whatever reason, including maintenance, technical problems, EDP failures, action taken by the authorities, war or threat of war, uprising or civil unrest;
  • the unavailability of communication lines, disruption of postal services, automatic electronic data processing, the transfer of data and other data communications or electric power transmission beyond the Bank’s control;
  • a suspension or delay in the Bank’s operations due to fire or other comparable disaster; or
  • industrial action such as a strike, lock-out, boycott or blockade, regardless of whether the Bank is involved in the conflict itself, and, generally, any event beyond the Bank’s reasonable control.

The Bank will be entitled to suspend its E-Banking website and/or application service owing to a force majeure event or any of the above circumstances until further notice.

  • Acceptance and amendments

The Client and/or the User acknowledge(s) that, by accepting these General Terms and Conditions, he is also accepting any further present or future service instructions or amendments thereto given by the Bank in writing or published on the E-Banking website and/or application.

By using the E-Banking website and/or application following the publication of any new instruction or amendment, the Client and/or the User will be deemed to have accepted the relevant instruction or amendment.

Should the Bank intend to amend these General Terms and Conditions, it will immediately inform the Client, indicating the clauses it intends to amend or add as well as the terms of the amendments or additions. The Bank shall inform the Client in writing of these amendments, by e-mail via the E-Banking website and/or application or by ordinary letter. The Client will be deemed to have accepted the amendments or additions if he does not notify the Bank in writing of his disapproval within 30 days of dispatch of the new General Terms and Conditions. Notwithstanding the foregoing, by using the E-Banking website and/or application following the publication of an amendment to the General Terms and Conditions, the Client will be presumed to have accepted the amendments.

  • Personal data protection

The Bank complies with the “Data Protection Laws” as referred and detailed in the General Terms and Conditions, Part 1 Provisions Common to All Services – Article 21.

The Bank processes certain personal data concerning precontractual and contractual relations with the Client as described in the dedicated privacy notice as available on the Bank’s website: https://www.bemo.lu

  • General Provisions

Should a clause or clauses of these E-Banking General Terms and Conditions be held to be null and void or inapplicable, in whole or in part, this will not affect the main General Terms and Conditions.